WORLD

UK, European Stocks Deliver Worst Quarter in 9 Years

Trader reacts in front of the DAX board at the Frankfurt stock exchange
European and British stock markets have suffered their worst quarterly performances since 2002, as fears of a crippling Eurozone debt crisis and risks of another global recession have battered equities in Britain, Germany and France.
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Sudan"s Foreign Minister Ali Karti

Debt risks crippling Sudan: minister

Sudan's massive debt risks exacerbating a difficult economic situation as annual debt servicing costs hit about $1 billion following the secession of the south earlier this year, its foreign minister Ali Karti said.
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Angola to introduce benchmark interest rate: report

Angola plans to introduce a benchmark interest rate in October to help the economy attain price stability and boost household savings, daily newspaper Jornal de Angola reported on Friday, citing the head of the country's central bank.
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Nigeria's rescued banks recapitalise

Nigeria's Union Bank on Friday became the last lender rescued in a $4 billion 2009 bailout to get recapitalisation approval, bringing to a close a reform programme set-up two years ago to end the country's banking crisis.
Morocco"s King Mohammed prepares to address the nation in Rabat

Morocco regulator in pledge on monarchy-owned firms

Morocco's antitrust authority pledged total even-handedness in dealing with businesses owned by the monarchy, but exception may be made in sectors that help preserve social stability and firms that are leaders in other sectors, its head said in an interview.
The Valero St. Charles oil refinery is seen during a tour of the refinery in Norco, Louisiana

Chad refinery venture with China suspends output

Chad's first oil refinery, a joint venture with China National Petroleum Company, has suspended production, arguing that the price agreed with Chadian authorities to supply them was driving it into heavy losses.
Zambian opposition leader Michael Sata (R) is sworn in as President at the supreme court in the capital Lusaka

Zambia's Sata takes aim at graft, high bank rates

New Zambian President Michael Sata launched a probe on Friday into last year's sale of telecoms operator Zamtel and vowed to keep a close eye on copper exports, while finance minister Alexander Chikwanda told banks to cut interest rates.
Workers build a pipeline for transporting natural gas

China, Tanzania sign $1 bln gas pipeline deal: report

China and Tanzania have signed a $1 billion loan agreement to build a major natural gas pipeline in east Africa's second-biggest economy, a Tanzanian newspaper quoted the country's energy minister as saying on Friday.
Johannesburg stock exchange

S.African stocks book worst quarter since Q2 2010

South African stock prices edged lower on Friday, concluding the worst quarterly performance for over a year, as concerns about the euro zone debt crisis weighed on resource companies and others sensitive to global demand.
South African rands

S Africa rand ends 3rd quarter with fresh fall vs dlr

The rand fell against the dollar on Friday and looked set for its worst quarter in over two years as investors trim exposure to risk going into a weekend, remaining unconvinced that the euro region's debt crisis will be solved.
Kenya"s Finance Minister Uhuru Kenyatta walks to Parliament

Kenya's Kenyatta at Hague, blames Odinga

Kenyan Finance Minister Uhuru Kenyatta, appearing at The Hague on Thursday to try to avoid being tried for crimes against humanity, put the blame for violence that followed an election four years ago on his prime minister.
Pirates

Somali pirates free Greek-owned cargo ship

Somali pirates have freed a Greek-owned bulk carrier held off the Horn of Africa coast for seven months after a multi-million dollar ransom was air-dropped to secure its release, a pirate source and local maritime expert said on Friday.
Former Rwandan health minister Casimir Bizimungu

UN court acquits Rwandan ex-ministers of genocide

The U.N. war crimes tribunal for Rwanda on Friday acquitted two former ministers of genocide charges, making them among the most high-profile officials to be found not guilty of playing key roles in the 1994 slaughter of about 800,000 people.

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